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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1186)	5/13/2001 10:33:25 PM
From: ms.smartest.person	Read Replies (1) of 2248

HK PRESS: Pacific Century Insurance Denies It's For Sale Dow Jones Newswires May 8, 2001 Dow Jones Newswires HONG KONG -- Pacific Century Insurance (H.PCN) denied it's the target of a takeover or a merger, the South China Morning Post reports, quoting Chief Executive Andrew Yang. Yang said "our majority shraeholders haven't told us we are on the market," the paper reported. The company is the insurance arm of Singapore-based Pacific Century Regional Development (P.PCR), which is controlled by Richard Li, chairman of Pacific Century Cyberworks (PCW). It has been the focus of takeover rumors amid speculation Li could use the funds for debt-ridden PCCW. Peter Allen, a director at the insurance company, said a sale was still a possibility. "PCI is a golden asset and people will be interested," the Post quoted him saying. By Dow Jones Newswires; 852 2802 7002. -0- 09/05/01 00-43G -------------------------------------------------------------------------------- URL for this Article: interactive.wsj.com -------------------------------------------------------------------------------- Copyright © 2001 Dow Jones & Company, Inc. All Rights Reserved. Printing, distribution, and use of this material is governed by your Subscription Agreement and copyright laws. For information about subscribing, go to wsj.com Used with permission of wsj.com

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